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With reference to Mission 50K-EV4ECO, consider the following statements:
  1. It is an initiative of the World Bank in collaboration with the Union Ministry of Industry and Commerce.
  2. Under this mission loan is given to small and medium enterprises (SMEs) for the purchase of Electric Vehicles and the development of charging infrastructure.
Which of the statements given above is/are correct?
  • a)
    1 Only
  • b)
    2 Only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
With reference to Mission 50K-EV4ECO, consider the following statement...
Small Industries Development Bank of India (SIDBI) recently announced a new scheme Mission 50K-EV4ECO to boost the electric vehicle (EV) ecosystem in the country.
  • Under this mission, SIDBI will directly provide loans to eligible small and medium enterprises (SMEs) for the purchase of EVs and developing charging infrastructure, including battery swapping.
  • It focuses on increasing the uptake of electric two-wheelers, three-wheelers and four-wheelers through direct and indirect lending support to vehicle aggregators, fleet operators and leasing companies.
  • The Small Industries Development Bank of India was established under an Act of Parliament in 1990.
  • It is the Principal Financial Institution engaged in the promotion, financing & development of the Micro, Small and Medium Enterprises (MSMEs) sector and coordination of the functions of the various institutions engaged in similar activities.
Hence only statement 2 is correct
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With reference to Mission 50K-EV4ECO, consider the following statements: It is an initiative of the World Bank in collaboration with the Union Ministry of Industry and Commerce. Under this mission loan is given to small and medium enterprises (SMEs) for the purchase of Electric Vehicles and the development of charging infrastructure.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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With reference to Mission 50K-EV4ECO, consider the following statements: It is an initiative of the World Bank in collaboration with the Union Ministry of Industry and Commerce. Under this mission loan is given to small and medium enterprises (SMEs) for the purchase of Electric Vehicles and the development of charging infrastructure.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to Mission 50K-EV4ECO, consider the following statements: It is an initiative of the World Bank in collaboration with the Union Ministry of Industry and Commerce. Under this mission loan is given to small and medium enterprises (SMEs) for the purchase of Electric Vehicles and the development of charging infrastructure.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to Mission 50K-EV4ECO, consider the following statements: It is an initiative of the World Bank in collaboration with the Union Ministry of Industry and Commerce. Under this mission loan is given to small and medium enterprises (SMEs) for the purchase of Electric Vehicles and the development of charging infrastructure.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
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